Huge finds boost Atlas Iron

Atlas Iron has announced a spate of new discoveries that have increased its ore reserves by 21 per cent, with one deposit almost doubling in size.

In a statement Atlas said the new finds increased its Pilbara iron ore reserves to 499 million tonnes, with the extensive drilling campaigns of the past 18 months paying dividends.

The company saw a 21 per cent increase in the Mt Dove reserve, where production started recently, and a 25 per cent rise at Abydos, where construction is underway.

A 98 per cent increase was also posted for McPhee Creek, which has been marked as a key area for future development.

In a statement Atlas managing director Ken Brinsden said the company was on track to ship 10mtpa by the end of June this year.

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